>Is it just me, or this something new? A Fed chairman coming out against
>a presidential initiative the day after its proposed? I think that
>Greenspan has begun to believe his own press.
He's said this before. Republican capital seems not to want any federal money in the stock market; Democratic capital likes the idea. (Unions and philanthropies already have big stock portfolios.) Greenspan is a Republican. On top of that, it could be that the central banker in him gets nervous about injecting big public funds into an already frothy market. It looks like all the liberals, from the think tanks to the AFL-CIO, are all going to line up behind Clinton's softer privatization.
Doug